Pringles Sale to Kellogg Completed
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The sale of Pringles to Kellogg has been completed. According to a news release from the Kellogg Company, the acquisition cost $2.695 billion and makes Kellogg the world’s second-largest savory snacks player. The Jackson, TN plant is the only Pringles plant in North America. “In Pringles, Kellogg has acquired a terrific business, with exceptional employees, world-class manufacturing facilities, iconic brand awareness, and a tremendous platform for growth,” said John Bryant, Kellogg Company’s president and chief executive officer. “The addition of Pringles to our portfolio significantly advances the company’s strategic goal of building a global snacks business on par with our global cereal business, and expanding our global footprint.” The Pringles acquisition nearly triples the size of Kellogg Company’s international snacks business, and adds a complementary product to the company’s high-quality snacks brands including Keebler, Cheez-It and Special K Cracker Chips. Pringles is the world’s second largest player in savory snacks, with $1.5 billion in sales across more than 140 countries.
